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[Please note: This page is part of the Chicago CD Rates archive. Most of these deals on this page are not current and no longer available. Please check the date of the post before getting too excited and driving to a bank an hour away. If you have any doubts whether the deal is available, contact the bank or credit union. For a list of more current rates, visit our homepage.]
5.25% 48-Month CD at National City and MidAmerica
National City Bank and MidAmerica Bank, both part of the National City Corporation, have a very nice 4-year CD rate right now: 5.25% APY with a $10,000 minimum. There is one catch to the deal, the specifics of which depend on which bank you open it with. With National City: “To qualify for this offer, you must have an existing savings account at National City or open a Money Market Savings account with $1,500.” With MidAmerica Bank, you need to open a checking account with $1500. The MidAmerica deals seems to be better as the Free Checking Account doesn’t have any minimum balance required to avoid fees after the initial deposit, so you wouldn’t have to keep the entire $1500 in the account for any extended period of time. Also, at MidAmerica at least, the CD is available as an IRA CD with a minimum of only $100.
MidAmerica Bank has about 60 branches throughout the Chicago area. National City also has many branches throughout Chicagoland.
(Thanks to reader PG for pointing out this deal.)
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